
Pittsburgh is poised to be at the heart of America's second Industrial Revolution
President Donald Trump, in an interview with me ahead of the summit, said the event is going to 'open the eyes of a lot of people of what is about to be unleashed in Pennsylvania.'
Senator David McCormick, the Pittsburgh Republican who assembled the July 15 event, said the energy and AI summit will feature Trump, several cabinet members, Pennsylvania Gov. Josh Shapiro, big Tech leaders from OpenAI and Meta as well as energy leaders from all over the country, including the natural gas powerhouse EQT's Toby Rice.
3 Industrialist Andrew Carnegie turned Pittsburgh into the steel capital of the world.
ASSOCIATED PRESS
'And what is about to happen here in Pennsylvania, with the technology experts from our universities, the natural resources, the ability to turn around long dormant industrial communities and our unparrelled workforce is a game changer,' McCormick said.
He compares the moment to 1859, when Edwin Drake became the first American to successfully drill for oil. Drake's Well, in Titusville, Pennsylvania, ushered in an energy revolution.
Scottish immigrant Andrew Carnegie was an early investor in this oil boom, which he then used to build the largest steel company in the world in western Pennsylvania. Carnegie became one of the richest men in American history, and donated most of it — including to the Pittsburgh research university that bears his name.
'People will quickly see we are on the brink of America's next industrial revolution, just in the same way Pennsylvania led the first one when Drake's oil was discovered,' McCormick said.
'We are at that moment right now, thanks to the technology that comes from [Carnegie Mellon] and the hubs of companies that surround it, as well as our incredible work force to build these AI data power centers, and the tradesmen and women who will supply the energy needed for them,' he said.
Darrin Kelly, the President of the Allegheny-Fayette Labor Council, said if the investments in projects all line up, his men and women will be ready to go. 'We have the best workforce in the world and no matter what it is, we'll shine when the time comes.'
3 Workers at the the McKeesport steel mill in 1949.
ASSOCIATED PRESS
The event comes on the heels of a boom in the labor force in Pennsylvania that kicked off last month when Trump announced the partnership and $11 billion investment from Japanese-owned Nippon Steel. That investment not only kept the American steelmaker in the U.S., but also protected more than 100,000 jobs through investments in steelmaking in Pennsylvania as well as in other plants in Indiana, Arkansas, Minnesota and Alabama.
That announcement was quickly followed by Amazon pledging $20 billion in Pennsylvania for AI infrastructure.
Shapiro told me that the investment will establish multiple high tech cloud computing and AI innovation campuses across the Commonwealth, 'It will create thousands of new jobs that will build, operate and maintain the first two data center campuses in Luzerne and Bucks counties,' he said, adding, 'look for more investment soon.'
Western Pennsylvania sits in the sweet spot for the growth and development of the AI boom; both the University of Pittsburgh and CMU are heralded for attracting and training some of the brightest minds in the country when it comes to engineering, research and artificial intelligence.
Western Pennsylvania has had its troubles. After the end of the steel boom, the area decayed, unemployment was rampant — still-vacant coal fired power plants, steel mills and manufacturing plants stand as ghostly sentinels of an era that has long vanished.
But things started to turn around about 15 years with a natural-gas boom and oil fracking technology. McCormick says between the access to massive amounts of energy, both natural gas, nuclear as well as coal that will turn things around in a way no one has seen for generations.
In April, in Homer City, the stacks of a former coal fired power plant were imploded, and the site is being redeveloped into a $10 billion AI and data center.
In the two years since the Homer City coal fire plant had been closed down, the tiny western Pennsylvania village had already started to show signs of depression — but the new investment changed everything.
3 Sen. Dave McCormick assembled the Pennsylvania Energy and Innovation Summit that will be hosted in Pittsburgh this week.
AP Photo/Steven Senne
McCormick said this isn't just about the potential tens of thousands of construction jobs to build these AI data centers. 'These jobs will also include chemists, scientists, engineers, AI experts, physicists,' he said.
McCormick said people have asked him why Pittsburgh?
His answer: 'The energy production is incredible, it is the number two energy producer in the country which is the first necessary step to power the AI revolution and to really power the energy revolution. We have incredible skilled labor, with the welders, steam fitters, pipe fitters, construction workers and electricians, but we also have incredibly sophisticated technologists.'
'I think it's arguably CMU is the best AI university in the country. It's got incredible tradition with computer science and technologists, which is why in recent years, Google and Apple and Airbnb and everybody else, Tesla all have offices around here because they're trying to draw on that talent,' he said.
Trump, Shapiro and McCormick all expressed great excitement about what people learn from this summit, but also to show the turn around for the region.
'Too often the stories have been about what once was, well this is a moment about how great things will be,' said McCormick, adding, 'We are only beginning.'
Salena Zito is the author of 'Butler: The Untold Story of the Near Assassination of Donald Trump and the Fight for America's Heartland,' out now.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
FTSE 100 LIVE: Markets higher as EU agrees 15% tariff in US trade deal
The FTSE 100 (^FTSE) and European stocks marched higher on Monday morning as investors cheered a trade deal struck over the weekend between the EU and US. The deal comes ahead of the 1 August deadline set by US president Donald Trump and brings more certainty about the future of commerce between the bloc and the US for investors. The pair agreed on a 15% tax on all EU goods — half of the 30% previously threatened by Trump. They also agreed to zero tariffs on certain products. Although the deal brings more certainty to trade relations, Trump could still change its terms as it is just a "high-level" agreement at this point. It also brings higher tariffs than have historically been implemented. In addition, the US set out an agreement with Japan and is set to meet with Chinese officials on Monday to hammer out new terms for import and export levies. Stocks: Create your watchlist and portfolio Sunday's deal was announced after private talks between Trump and European Commission president Ursula von der Leyen at his Turnberry golf course in South Ayrshire. London's premier index rose 0.4% after the opening bell. Martin Sorrell's WPP (WPP.L) and asset manager ICG (ICG.L) were among the top risers in the index. The DAX (^GDAXI) in Germany jumped 0.7%. The CAC 40 (^FCHI) in Paris rose more than 1.1%. The pan-European STOXX 600 (^STOXX) gained 0.8%. The euro (GBPEUR=X) fell slightly against the pound. Coming up this week: heavyweight earnings and central bank decisions Investor eyes are now turning to a jam-packed week on Wall Street. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 S&P 500 companies set to report. Meta Platforms (META) and Microsoft (MSFT) lead off Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday. HSBC (HSBA.L) also reports on Wednesday, while Shell (SHEL.L) is up on Thursday. Beyond earnings, the Federal Reserve takes centre stage. The central bank kicks off a two-day meeting Tuesday, with a decision expected Wednesday afternoon. While rates are widely expected to remain in the 4.25%-4.50% range, traders will be listening closely for any signs that policymakers are warming to a possible rate cut in September. All this is occurring alongside legal battles to open up the Fed's meetings to investor eyes, as well as Trump's general pressure on the central bank and Chair Jerome Powell. Here's the US stock futures chart US stock futures jump on EU-US deal US stock futures edged higher on Monday morning as investors braced for a packed week featuring earnings from Big Tech heavyweights, a Federal Reserve meeting, inflation data, and President Trump's Aug. 1 deadline to lock in key trade deals. Futures tied to the Dow Jones Industrial Average (YM=F) were up about 0.4%, while S&P 500 futures (ES=F) gained 0.5%. Nasdaq 100 futures (NQ=F) rose 0.6%. The rally follows a strong week on Wall Street. All three major indexes posted gains Friday, with the S&P 500 closing at an all-time high for a fifth straight session. Market sentiment got a boost Sunday night after the US and European Union reached a deal to reduce tariffs to 15% on EU goods, easing tensions with one of America's largest trading partners. Trump had previously been threatening imposing 30% tariffs from Friday. Read more on Yahoo Finance Good morning! Hello from London. Lucy Harley-McKeown here, gearing up to bring you the news after a very eventful weekend. The EU and US finally agreed a trade deal over the weekend ahead of the fast-approaching 1 August deadline set by president Trump. Coming up, first-half results from: Essilor Luxottica ( Heineken ( and Porsche ( Let's get to up this week: heavyweight earnings and central bank decisions Investor eyes are now turning to a jam-packed week on Wall Street. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 S&P 500 companies set to report. Meta Platforms (META) and Microsoft (MSFT) lead off Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday. HSBC (HSBA.L) also reports on Wednesday, while Shell (SHEL.L) is up on Thursday. Beyond earnings, the Federal Reserve takes centre stage. The central bank kicks off a two-day meeting Tuesday, with a decision expected Wednesday afternoon. While rates are widely expected to remain in the 4.25%-4.50% range, traders will be listening closely for any signs that policymakers are warming to a possible rate cut in September. All this is occurring alongside legal battles to open up the Fed's meetings to investor eyes, as well as Trump's general pressure on the central bank and Chair Jerome Powell. Investor eyes are now turning to a jam-packed week on Wall Street. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 S&P 500 companies set to report. Meta Platforms (META) and Microsoft (MSFT) lead off Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday. HSBC (HSBA.L) also reports on Wednesday, while Shell (SHEL.L) is up on Thursday. Beyond earnings, the Federal Reserve takes centre stage. The central bank kicks off a two-day meeting Tuesday, with a decision expected Wednesday afternoon. While rates are widely expected to remain in the 4.25%-4.50% range, traders will be listening closely for any signs that policymakers are warming to a possible rate cut in September. All this is occurring alongside legal battles to open up the Fed's meetings to investor eyes, as well as Trump's general pressure on the central bank and Chair Jerome Powell. Here's the US stock futures chart US stock futures jump on EU-US deal US stock futures edged higher on Monday morning as investors braced for a packed week featuring earnings from Big Tech heavyweights, a Federal Reserve meeting, inflation data, and President Trump's Aug. 1 deadline to lock in key trade deals. Futures tied to the Dow Jones Industrial Average (YM=F) were up about 0.4%, while S&P 500 futures (ES=F) gained 0.5%. Nasdaq 100 futures (NQ=F) rose 0.6%. The rally follows a strong week on Wall Street. All three major indexes posted gains Friday, with the S&P 500 closing at an all-time high for a fifth straight session. Market sentiment got a boost Sunday night after the US and European Union reached a deal to reduce tariffs to 15% on EU goods, easing tensions with one of America's largest trading partners. Trump had previously been threatening imposing 30% tariffs from Friday. Read more on Yahoo Finance US stock futures edged higher on Monday morning as investors braced for a packed week featuring earnings from Big Tech heavyweights, a Federal Reserve meeting, inflation data, and President Trump's Aug. 1 deadline to lock in key trade deals. Futures tied to the Dow Jones Industrial Average (YM=F) were up about 0.4%, while S&P 500 futures (ES=F) gained 0.5%. Nasdaq 100 futures (NQ=F) rose 0.6%. The rally follows a strong week on Wall Street. All three major indexes posted gains Friday, with the S&P 500 closing at an all-time high for a fifth straight session. Market sentiment got a boost Sunday night after the US and European Union reached a deal to reduce tariffs to 15% on EU goods, easing tensions with one of America's largest trading partners. Trump had previously been threatening imposing 30% tariffs from Friday. Read more on Yahoo Finance Good morning! Hello from London. Lucy Harley-McKeown here, gearing up to bring you the news after a very eventful weekend. The EU and US finally agreed a trade deal over the weekend ahead of the fast-approaching 1 August deadline set by president Trump. Coming up, first-half results from: Essilor Luxottica ( Heineken ( and Porsche ( Let's get to it. Hello from London. Lucy Harley-McKeown here, gearing up to bring you the news after a very eventful weekend. The EU and US finally agreed a trade deal over the weekend ahead of the fast-approaching 1 August deadline set by president Trump. Coming up, first-half results from: Essilor Luxottica ( Heineken ( and Porsche ( Let's get to it. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

Business Insider
23 minutes ago
- Business Insider
China says it wants the world to work together to govern AI. The US, not so much.
At this weekend's World Artificial Intelligence Conference in Shanghai, boxing robots thrilled the crowd. But the real heavyweight bout is between the US and China over the future of AI. The theme of the Shanghai conference, which was organized in part by the Chinese government and lasts until Monday, is "global solidarity in the AI era." In his keynote address, Chinese Premier Li Qiang called for a new global organization to coordinate responses to AI advancements. "Overall, global AI governance is still fragmented. Countries have great differences, particularly in terms of areas such as regulatory concepts, institutional rules," he said, speaking in Chinese. "We should strengthen coordination to form a global AI governance framework that has broad consensus as soon as possible." Li's pitch contrasted with comments made by US President Donald Trump earlier in the week. On Wednesday, the US president released his " AI Action Plan" and signed three executive orders. All of them, Trump said, were designed to free AI companies from regulatory burdens. "From this day forward, it'll be a policy of the United States to do whatever it takes to lead the world in artificial intelligence," he said before signing his executive orders. Trump's doctrine will likely benefit American AI companies. Many of them, like OpenAI, Meta, and Google DeepMind, submitted recommendations to the president and praised the new policies. However, it's an open question whether forgoing stricter regulations in the United States will benefit humanity. AI industry leaders have long warned about the threats AI could pose — everything from disinformation and economic inequality to total loss of all human control. In 2023, a group of prominent AI scientists, including OpenAI CEO Sam Altman, Google DeepMind CEO Demis Hassabis, and Anthropic CEO Dario Amodei, signed a one-sentence statement calling for AI regulation. "Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war," it said. Altman said last year that AI could have a "negative impact way beyond the realm of one country." He said the tech should be regulated by an "international agency looking at the most powerful systems and ensuring reasonable safety testing." One way to do that is through an agreed-upon global framework similar to the Nuclear Nonproliferation Treaty, which is enforced by the United Nations and which all but four countries have signed. The UN tech chief, Doreen Bogdan-Martin, told the AFP on Saturday that the world urgently needed a global deal to regulate AI. "We have the EU approach. We have the Chinese approach. Now we're seeing the US approach. I think what's needed is for those approaches to dialogue," she said. The Trump administration, however, is likely to hinder any such international agreement. Beyond its own effort to loosen restrictions at home, it has largely dismissed other global collaborations in favor of its America First policy. At the Shanghai conference, Geoffrey Hinton, a computer scientist known as the Godfather of AI, said international cooperation on AI would be difficult. He said few countries agree on basics like how misinformation should be policed. He said there was one subject, however, on which the whole world seems aligned: Humans should not let AI supersede their control. "So on that particular issue, it should be easy to get international collaboration," he said at the conference, adding, however, that it "may be difficult with the current US administration." "But rational countries will collaborate on that," he said.


Business Wire
23 minutes ago
- Business Wire
Mitsubishi Electric to Transfer Shares of Insurance Subsidiary to Marsh Japan
TOKYO--(BUSINESS WIRE)-- Mitsubishi Electric Corporation (TOKYO: 6503) announced today that it has concluded a share transfer agreement under which it will transfer shares of its Tokyo-based subsidiary Mitsubishi Electric Insurance Service Co., Ltd. to Marsh Japan, Inc. on November 4. Since its establishment in 1999 as an insurance agency for the Mitsubishi Electric Group, Mitsubishi Electric Insurance Service has supported the growth of companies and the life plans of individuals. Marsh Japan, which provides services and solutions to companies of all sizes across Japan, was founded in 1955 as a Japanese subsidiary of Marsh LLC, a world-leading insurance broker and risk advisor owned by Marsh McLennan (NYSE: MMC). Mitsubishi Electric has been assessing the significance of the insurance business in its portfolio, aiming to further strengthen the company's overall business structure. Considering the evolving business environment for insurance agencies in Japan, Mitsubishi Electric determined having Mitsubishi Electric Insurance Service teamed up with Marsh Japan would best position the company for long-term growth supported by Marsh LLC's global insurance expertise. The impact of the transaction on Mitsubishi Electric's consolidated financial results is not included in its financial forecast for the fiscal year ending March 2026, announced on April 28, 2025, but it is expected to be minor. If there is any significant change, updates will be announced promptly as required.